Charles Lee: Litecoin To Reach $14
The Litecoin creator Charles Lee deems that the price of the digital currency could achieve the rate of $14 at the time of SegWit’s activation on the network.
It was 2nd of April, Saturday, the F2Pool has mined Segregated Witness or the SegWit blocks for both of the Bitcoin and the Litecoin. Then Charles Lee has tweeted that he perceives that there is 72.34% of chance of another pool signaling for the SegWit in the next seven days. He equates the estimated prices of Litecoin to the level of the signaling the network has gathered thus far of 20% which equivalents with $4 USD; 60% that equals with $9 USD; and 100% that corresponds with $14 USD.
There are indications that the network will activate SegWit as soon as possible. Then it establishes the excitement and thrill even in the Bitcoin camp as well; and for some users to join the Litecoin train. This angle, as well as the understanding that its activation of the SegWit is an experiment for the Bitcoin makes some enthusiasts that probably would like to throw their weight behind it.
They are quite hopeful that the Litecoin will show the Bitcoin community that the SegWit can be good for the Bitcoin although the Litecoin price is likely to fall if and after the SegWit is activated for the Bitcoin. This is due to the facts of a successful implementation will likely amplify the chances of a successful Bitcoin SegWit execution significantly. And in the meantime, the Litecoin price will likely continue to gradually rise until the activation leading through to when the SegWit will go live.
The Litecoin’s capability to coalesce both of the Bitcoin and the Lightning Network for the transactions is a most important feature that could possibly distinguish that it will become more valuable than the top alternative currencies for the reason that it can unlock new possibilities that the industry has not seen yet. And the prospect that the SegWit activation on Litecoin may bring in new users to the fold is also another factor that will affect this particular scenario.
The progress is coming after the time when Charles Lee has written a letter to the Chinese Litecoin miners and the pool operators aimed on convincing them that regards on why the SegWit is good for the network. He fully made it clear to them that the Litecoin is not currently running into a block size problem; and it also has four times of capacity of the Bitcoin; but is bent on activating the SegWit because it has a fix for the transaction flexibility that fully enables the addition of the new technologies such as the Lightning Network and also the signatures or the confidential transactions.
His recommendations that the Litecoin can really outshine if they can get the SegWit on the Litecoin as the Bitcoin keeps upon stalling due to the block size scaling deadlock could appeal to a section of the Chinese investors. And he is very much certain that the market is waiting for the Litecoin to get SegWit and the price will also react positively if the SegWit is activated. And seeing all of these other Altcoins pumps is beyond doubt disheartening.